Bank Islam may assume BIMB listing status

Bank Islam Malaysia Bhd, the country’s oldest Islamic lender, may assume the listing status of its parent company BIMB Holdings Bhd, sources said. BIMB owns 51 per cent of Bank Islam, from which it derives the bulk of its earnings. “BIMB have been discussing the pros and cons of such a move. They may want to simplify the BIMB group structure,” one of the sources told Business Times.
Bank Islam accounts for some 85 per cent of BIMB’s profit before zakat and taxation (PBZT). The rest of the BIMB group’s earnings comes mainly from a listed Islamic insurance firm, Syarikat Takaful Malaysia Bhd (STMB), in which BIMB owns a 65.2 per cent stake………………………………………..Full Article: Source